Question 1

What legal structure should I choose for my business?

Accepted Answer

The best legal structure depends on your specific circumstances, including liability concerns, tax implications, and future plans. Common options include sole trader, partnership, limited company, and LLP. We can help you understand the pros and cons of each structure and choose the one that best meets your needs.

Question 2

Do I need a written contract for every business relationship?

Accepted Answer

While not every business relationship requires a formal written contract, it's generally advisable to document important agreements in writing. This helps prevent disputes and provides clarity about each party's rights and obligations. We can advise you on which relationships require formal contracts and help draft appropriate documentation.

Question 3

What is due diligence and why is it important?

Accepted Answer

Due diligence is the process of investigating a business before entering into a transaction, such as an acquisition or investment. It involves examining the target company's financial records, legal compliance, contracts, and other important aspects. Proper due diligence helps identify potential risks and issues before they become problems.

Question 4

How can I protect my intellectual property?

Accepted Answer

Intellectual property protection depends on the type of IP you have. This may include patents for inventions, trademarks for brand names and logos, copyrights for creative works, and trade secrets for confidential information. We can help you identify your IP assets and develop appropriate protection strategies.

Question 5

What are my obligations as a company director?

Accepted Answer

Company directors have various legal obligations, including acting in the company's best interests, avoiding conflicts of interest, and ensuring compliance with company law. Directors can be personally liable for breaches of their duties, so it's important to understand these obligations and seek advice when necessary.

Question 6

What happens when a customer doesn't pay their invoices?

Accepted Answer

Unpaid invoices should be pursued systematically through reminder letters, formal demands, and if necessary, legal proceedings. You may be entitled to statutory interest on late payments under the Late Payment of Commercial Debts Act. Options include debt recovery proceedings, statutory demands, winding up petitions (for companies), or instructing debt collection agencies. We can help you recover outstanding debts efficiently while maintaining business relationships where possible.

Question 7

How do I protect my business when entering partnerships or joint ventures?

Accepted Answer

Partnership and joint venture agreements should clearly define each party's roles, responsibilities, financial contributions, profit sharing, decision-making processes, and exit strategies. Include provisions for dispute resolution, intellectual property ownership, confidentiality, and restrictions on competing activities. We can draft comprehensive agreements that protect your interests while enabling successful collaboration.

Question 8

What insurance does my business need and is it legally required?

Accepted Answer

Employer's liability insurance is legally required if you have employees. Public liability insurance is essential for most businesses dealing with the public. Professional indemnity insurance is crucial for service providers. Other important covers include product liability, cyber liability, and directors' and officers' insurance. We can review your business risks and advise on appropriate insurance coverage.

Question 9

How do I handle breach of contract by a supplier or customer?

Accepted Answer

First, review the contract terms to understand rights and obligations. Document the breach with evidence. Consider whether the breach is serious enough to terminate the contract or if remedial action is possible. Options include demanding performance, claiming damages, withholding payments, or terminating the contract. We can assess the breach, advise on your legal position, and help negotiate solutions or pursue legal remedies.

Question 10

What are the key legal considerations when selling my business?

Accepted Answer

Business sales involve complex legal issues including valuation, tax implications, warranties and indemnities, employee transfers (TUPE), regulatory approvals, and completion procedures. Key documents include heads of terms, sale and purchase agreement, disclosure letter, and various completion documents. We guide you through the entire process to ensure maximum value and minimum risk.

Question 11

How do I comply with health and safety regulations?

Accepted Answer

Health and safety compliance requires conducting risk assessments, implementing safety policies, providing employee training, maintaining equipment, and keeping records. The Management of Health and Safety at Work Regulations apply to all businesses. Specific regulations apply to different industries. We can help you develop comprehensive health and safety management systems and ensure regulatory compliance.

Question 12

What are my obligations when making employees redundant?

Accepted Answer

Redundancy procedures must be fair and follow proper consultation processes. This includes considering alternatives to redundancy, defining selection criteria objectively, consulting with employees (and their representatives where applicable), and providing appropriate notice and redundancy payments. Collective redundancies (20+ employees) have additional consultation requirements. We can guide you through compliant redundancy procedures.

Question 13

How do I protect my business from cyber attacks and data breaches?

Accepted Answer

Cyber security requires technical measures (firewalls, encryption, access controls) and legal compliance (privacy policies, data processing agreements, breach procedures). Under GDPR, you must report serious breaches within 72 hours and notify affected individuals where there's high risk. We can help you develop comprehensive cyber security policies, incident response procedures, and ensure regulatory compliance.

Question 14

What are the legal requirements for business websites and e-commerce?

Accepted Answer

Business websites must comply with various regulations including privacy laws, consumer protection rules, accessibility requirements, and distance selling regulations. E-commerce sites need clear terms and conditions, privacy policies, cancellation rights information, and secure payment processing. We can ensure your website meets all legal requirements and protects your business from liability.

Question 15

How do I handle disputes with business partners?

Accepted Answer

Partnership disputes should first be addressed through any dispute resolution procedures in your partnership agreement. If informal resolution fails, options include mediation, arbitration, or court proceedings. In serious cases, you may need to consider dissolving the partnership or seeking court orders to resolve deadlocks. We can help resolve disputes while protecting your business interests and relationships where possible.

Commercial Law Solicitors in Chippenham

Commercial Law in Chippenham

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